Sone Capital Management LLC bought a new position in Fortive Corporation (NYSE:FTV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 325,352 shares of the technology company's stock, valued at approximately $19,876,000. Fortive comprises about 1.5% of Sone Capital Management LLC's investment portfolio, making the stock its 21st biggest holding. Sone Capital Management LLC owned 0.11% of Fortive at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its stake in Fortive by 97.1% during the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company's stock worth $428,000 after buying an additional 2,811 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Fortive by 6.9% during the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company's stock worth $484,000 after buying an additional 430 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company's stock valued at $37,000 after acquiring an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Fortive by 87.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company's stock valued at $118,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Fortive by 3.3% in the 2nd quarter. Cerity Partners LLC now owns 80,595 shares of the technology company's stock worth $4,201,000 after acquiring an additional 2,548 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.
Insider Transactions at Fortive
In related news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $61.59, for a total value of $533,492.58. Following the completion of the sale, the senior vice president directly owned 79,118 shares in the company, valued at $4,872,877.62. This trade represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is currently owned by corporate insiders.
Fortive Stock Performance
FTV stock opened at $60.45 on Tuesday. The company has a 50 day moving average price of $61.16 and a 200 day moving average price of $59.48. Fortive Corporation has a fifty-two week low of $46.54 and a fifty-two week high of $64.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.24 and a quick ratio of 1.00. The stock has a market capitalization of $18.26 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06.
Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Analysts forecast that Fortive Corporation will post 3.02 EPS for the current year.
Fortive announced that its Board of Directors has approved a stock repurchase program on Monday, May 4th that allows the company to buyback 20,000,000 shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Fortive Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.07 dividend. This is a positive change from Fortive's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, September 4th. Fortive's dividend payout ratio (DPR) is 14.20%.
Analyst Ratings Changes
A number of equities research analysts recently commented on FTV shares. Weiss Ratings upgraded Fortive from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. lifted their price objective on Fortive from $63.00 to $64.00 and gave the company an "underweight" rating in a research report on Tuesday, May 12th. Wells Fargo & Company boosted their price objective on Fortive from $58.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Citigroup increased their target price on Fortive from $64.00 to $65.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Finally, Argus restated a "buy" rating and set a $68.00 target price on shares of Fortive in a report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $63.10.
Get Our Latest Stock Report on Fortive
About Fortive
(
Free Report)
Fortive Corporation NYSE: FTV is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive's activities on higher‑margin instrumentation, software and services.
Fortive's operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.
Further Reading
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